HC Wainwright Issues Positive Forecast for Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price

Bitdeer Technologies Group (NASDAQ:BTDR) had its price objective lifted by HC Wainwright from $18.00 to $19.00 in a report published on Monday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other research analysts have also weighed in on BTDR. Wall Street Zen raised shares of Bitdeer Technologies Group from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. B. Riley reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research note on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $17.00 price target on shares of Bitdeer Technologies Group in a research note on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $23.00 price target on shares of Bitdeer Technologies Group in a research note on Friday. Finally, Benchmark reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research note on Friday. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $20.80.

Bitdeer Technologies Group Stock Performance

Shares of BTDR stock opened at $14.36 on Monday. Bitdeer Technologies Group has a 52 week low of $5.40 and a 52 week high of $26.99. The company’s 50 day moving average price is $13.00 and its two-hundred day moving average price is $12.24. The company has a market capitalization of $1.61 billion, a P/E ratio of -3.52 and a beta of 2.23.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its stake in shares of Bitdeer Technologies Group by 7,157.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock worth $83,000 after acquiring an additional 7,157 shares in the last quarter. Vident Advisory LLC grew its stake in shares of Bitdeer Technologies Group by 13.2% in the second quarter. Vident Advisory LLC now owns 775,776 shares of the company’s stock valued at $8,906,000 after buying an additional 90,762 shares in the last quarter. Boothbay Fund Management LLC bought a new position in shares of Bitdeer Technologies Group in the second quarter valued at $332,000. Bank of America Corp DE grew its stake in shares of Bitdeer Technologies Group by 67.5% in the second quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock valued at $72,753,000 after buying an additional 2,553,093 shares in the last quarter. Finally, Lighthouse Investment Partners LLC bought a new position in shares of Bitdeer Technologies Group in the second quarter valued at $804,000. 22.25% of the stock is owned by institutional investors.

About Bitdeer Technologies Group

Bitdeer Technologies Group operates as a technology company for blockchain and computing. It offers hash rate sharing solutions, including Cloud hash rate and Hash rate marketplace; and a one-stop mining machine hosting solutions encompassing deployment, maintenance, and management services for efficient cryptocurrency mining; as well as mines cryptocurrencies for its own account.